Word: mops
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Dates: during 1940-1949
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These two amendments were sponsored by mop-haired, eloquent Everett Dirksen, Illinois Republican (and close friend of Earl Smith, the brains of the American Farm Bureau). The House was on a violent rampage. Even veteran anti-New Dealers warned the members they were going too far. The young Turks would not hear or heed. They had tasted blood...
Tall, handsome Thomas Stanly Treanor is 35 years old, with a mop of jet-black hair and a shy face. He started out in routine fashion, reporting for Hearst papers in Los Angeles (his home). Later he joined the Los Angeles Times as woman's-page editor, in 1940 got his Home Front column to write...
Promoter of this deft plan is scrappy, flash-quick Robert Ralph Young (TIME, Dec. 28), whose rambling Alleghany Corp. owns 60% of MOP common and $11,000,000 in 5½% convertible bonds. Usually a rooter for rail debt reduction, Bob Young boiled over when he first saw the ICC plan: Alleghany's huge holdings in MOP common were tossed out entirely, its 5½% bonds were treated almost as badly. When he took another look he got madder still: the big insurance companies (holding the topflight bonds) would control the road...
First break for Bob Young came when MOP security holders voted on the ICC plan and more than one-third of them turned it down. Meanwhile Young proposed four MOP directors and saw them elected. Then he convinced potent Massachusetts Investors Trust and some of the smaller insurance companies that his plan was best. Lastly he got the unexpected help of the war boom. MOP's net available for dividends soared from a loss of $9,564,000 in 1940 to a record $30,600,000 in 1942. Meanwhile, the once-rickety road was put in tiptop condition, with...
Biggest criticism of Bob Young's plan is that too much reliance may have been placed on present high-tide war earnings. If MOP profits fall drastically in peacetime, the road may find itself in worse shape than if the ICC plan had been followed to the letter. But this week Wall Streeters figured the Young plan was going through-in heavy trading the junior bonds hit $80 each v. last year...